International Paper (NYSE:IP) Director Sells $20,964.00 in Stock

International Paper (NYSE:IP) Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $34.94, for a total value of $20,964.00. Following the transaction, the director now owns 40,588 shares of the company’s stock, valued at approximately $1,418,144.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

International Paper Stock Performance

IP opened at $36.29 on Friday. International Paper has a 1-year low of $29.00 and a 1-year high of $41.28. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22. The business has a 50 day moving average price of $36.65 and a two-hundred day moving average price of $35.81. The company has a market capitalization of $12.60 billion, a price-to-earnings ratio of 74.06 and a beta of 1.01.

International Paper (NYSE:IP) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). International Paper had a return on equity of 7.45% and a net margin of 0.93%. The firm had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.56 billion. During the same period in the previous year, the firm earned $0.53 earnings per share. International Paper’s revenue was down 8.0% on a year-over-year basis. Research analysts predict that International Paper will post 1.88 EPS for the current fiscal year.

Hedge Funds Weigh In On International Paper

Several hedge funds have recently made changes to their positions in IP. MCF Advisors LLC grew its holdings in shares of International Paper by 1,094.7% in the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 624 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of International Paper by 208.3% in the 4th quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 475 shares during the period. Manchester Capital Management LLC purchased a new position in International Paper in the 3rd quarter worth about $25,000. CVA Family Office LLC acquired a new stake in International Paper during the 4th quarter worth about $27,000. Finally, Venturi Wealth Management LLC lifted its stake in International Paper by 2,281.8% during the third quarter. Venturi Wealth Management LLC now owns 786 shares of the basic materials company’s stock valued at $28,000 after buying an additional 753 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

IP has been the subject of several analyst reports. StockNews.com downgraded shares of International Paper from a “buy” rating to a “hold” rating in a report on Sunday, January 14th. Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and raised their price target for the company from $36.00 to $46.00 in a research note on Wednesday, March 20th. Wells Fargo & Company decreased their price objective on International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, February 2nd. Truist Financial reaffirmed a “buy” rating and set a $40.00 target price on shares of International Paper in a research note on Wednesday, April 17th. Finally, Bank of America raised International Paper from an “underperform” rating to a “buy” rating and increased their price target for the stock from $37.00 to $42.00 in a research note on Monday, March 4th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $38.57.

About International Paper

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.